Switch to T-Mobile and Get $350 to Terminate Your Existing Contract

T-Mobile has announced that it will start paying early termination fees for customers if they switch over from A&T, Sprint, or Verizon.

The plan went into effect today, January 9, with a guarantee of up to $350 dollars per line to allow customers to sign on with T-Mobile. However, users are required to trade in their existing handset, purchase a new T-Mobile smartphone, sign a T-Mobile contact, and port their cell number over from their previous carrier.

T-Mobile will pay the exact cost to cancel an existing contract, up to $350 per line, and users will have to send proof to the company of the contract in question. Once users submit the contact to T-Mobile, they will receive a credit for their used smartphone instantly, freeing them up to purchase a new device while they wait on T-Mobile?€™s payout for their existing contract. Users can get up to $300 for their existing smartphone — in addition to the termination fee — and nearly every handset is available with zero money down with a contract.

The company calls it a “Get Out of Jail Free Card” however, the move may have come as a response to AT&T, which announced last week that it would pay customers $200 for every line they switched over to AT&T from T-Mobile.